The value of pensions is set to rise further while property markets brace for another blow
For the first time the value of an average “final salary” pension is now higher than the average property price, new data shows.
For most savers, their property is typically their most valuable asset but that is no longer the case, with lifetime pension savings overtaking.
This gap is likely to widen further over the coming months since the lockdown has put the property market in a deep freeze, according to Calum Cooper, of Hymans Robertson, a consultancy.
Property has historically lagged three to six months behind stock prices, which tend to be the first to take a hit in market downturns. Global stock markets plunged in March during the outbreak of coronavirus, meaning that residential property assets are likely feel a delayed blow over the coming months, Mr Cooper predicted….
